Kenon Holdings Ltd. (NYSE:KEN – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $37.77 and last traded at $37.52, with a volume of 5494 shares. The stock had previously closed at $37.02.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded Kenon from a “hold” rating to a “sell” rating in a research report on Thursday, May 15th.
Check Out Our Latest Stock Report on Kenon
Kenon Stock Performance
Kenon (NYSE:KEN – Get Free Report) last released its earnings results on Wednesday, May 28th. The utilities provider reported $0.22 earnings per share for the quarter. The company had revenue of $183.00 million during the quarter. Kenon had a negative return on equity of 2.64% and a net margin of 79.14%.
Kenon Increases Dividend
The business also recently disclosed an annual dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 14th were given a dividend of $4.80 per share. The ex-dividend date was Monday, April 14th. This is an increase from Kenon’s previous annual dividend of $1.21. This represents a dividend yield of 15.6%. Kenon’s payout ratio is currently 150.00%.
Hedge Funds Weigh In On Kenon
Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Kenon during the first quarter worth about $254,000. Anfield Capital Management LLC boosted its holdings in shares of Kenon by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock valued at $317,000 after acquiring an additional 4,669 shares during the period. Norges Bank acquired a new stake in shares of Kenon in the fourth quarter valued at approximately $458,000. Northern Trust Corp boosted its holdings in shares of Kenon by 104.6% in the fourth quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 7,881 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Kenon in the first quarter valued at approximately $575,000. 13.38% of the stock is owned by institutional investors and hedge funds.
Kenon Company Profile
Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.
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